Posted by HSH/WA on 3/14/13 10:26pm
Msg #461289

Just got approved by a new SS, but SC says they pay low

but they pay in 15 days, rated 4 stars. Several of my SSs have been quoting lower fees and when I try to hold the line, they go elsewhere. I'm thinking of working with this SS at a lower fee just to get the volume up. But once I accept the lower fee, getting it higher will be hard. Any thoughts?

Reply by ananotary on 3/14/13 10:55pm
Msg #461291

I know it's hard, but do you want to be the Walmart of

Notaries? It really is about working smarter, not harder. It takes lots of marketing, marketing, marketing. I can't say it enought, marketing. No short cuts, just plain old marketing.

Good luck!

Reply by Moneyman/TX on 3/15/13 12:17am
Msg #461300

Taking some time to list what it is that YOU bring to

the equation and the valuable assets you and your service are offering may help you to have more confidence in your presentations to the SS companies and/or TC's you are marketing to.

Also, take time to really know your numbers. Know what your REAL numbers are when it comes to how much it actually costs you to preform a signing. It's not just paper, time, and gas. The actual list for any NSA is quite extensive to begin with and once the list is individualized to your business, I promise you that you will be surprised at how much an average refi loan signing truly costs you to preform.

Just some questions off the top of my head I think you should ask yourself (not a complete list at all) -- Do you have a detailed and current business plan? Do you really know who you should be focusing your marketing on to reach your real target market? Do you know anything about your local competition? Do you really know what sets you apart from them? If so, are you really promoting that advantage? How many new contacts are you making each day?

What are your Daily, Weekly, Monthly, Quarterly & Yearly #'s (goals/targets verses actual) ** for new customers acquired ** new contacts ** income (net & gross) ** number of business cards passed out ** continuing education ** self improvement ** personal goals ** ? Do you even have these numbers?

If you have not already visited the SCORE site, I would suggest that you do so. It is a great resource. Look up the recent post Brenda made last week. Search NotRot for marketing, sales, business ideas that may help you.

All that being said, I think this is at least your 3rd post with similar information, questions doubts, etc. on the same subject that I have seen in just the last several weeks alone. I take it that you do not have a strong sales, or marketing, or business background?? I also have to question if you really understood the industry and the business before you began your NSA business. Regardless, take the time you need to and focus on your strengths and recognize your weaknesses.

Re: this OP and your other similar ones -- try these suggestions
1) Print out each one of your OPs of similar nature and look at them side by side to see what pattern of questions/doubts you can find that run through them as a collective. (do this first, then continue on)
2) Go back and reread/study your previous posts and every single response in each thread.
3) Take notes from each thread, the replies, suggestions and advice offered
4) Take the info you gathered when you finished #1) above, check your notes to see if others have already given you advice on each of those issues. Are there multiple advice replies for each one? Multiple replies with similar advice from others? If so, it's a good bet that it's probably good advice.
5) Last thing, actually take the advice given.

If you link your profile to your postings (your name appears blue when linked) others may offer advice on your profile. Also, some people are more willing to send PM's and advice to posters that link their profiles. It's also a great way to build your network beyond just posting on the different boards on NotRot.

Reply by Belinda/CA on 3/15/13 12:46am
Msg #461304

May I ask, have you been reading this board? This is a

Business that takes marketing. Not just signing up with SSs and setting back. You are now an entrepreneur. Now it is time to get to work and earn a decent living. You do not have to settle unless you choose to not work at getting the word out about yourself. A good living at this comes slowly. Not a great living for a while no matter what you have heard. You are going to have to hit the pavement, spend some money and a great deal of time everyday. You will put in hours and hours and hours of work and may not get some jobs to get those decent jobs coming in. It takes effort and determination. Taking low pay jobs perpetrates the downward cycle of low pay you will soon regret. By the time you can get a good paying job, by this way of thinking, there honestly won't be any there anymore because everyone took them for nothing. Once they all lower their rates you can bet your sweet bippy there is no way on God's green earth you'll get pay back up. You will be setting a new normal. Best of luck to you. Really. :0)

Have you asked a similar question recently?

Reply by Moneyman/TX on 3/15/13 2:24am
Msg #461309

One other thought. Employees get paid, IC's Charge their fee n/m

Reply by Woody Williams on 3/15/13 10:34am
Msg #461324

Excellent advice from Moneyman/TX n/m

Reply by Melissa Stroh on 3/15/13 10:35am
Msg #461325

I am also new as a SA and I've turned down more jobs than I've been offered because of low pay. In the banking industry, I've met competition offering lower rates and then after a while, I would watch them close their doors. Businesses cannot 'get by', business are in the market to make money. I do think competition is a good thing because by design you are to get bigger, stronger, wiser, faster...but competition in the way of fees is not the 'hill you want to die on' if you are planning on staying in this market. You won't be challenging yourself in the best way.

Reply by Lisa Cirillo on 3/15/13 11:11am
Msg #461327

HSH/WA, I saw a post where you told a newbie not to accept low ball fees. Why are you changing your mind now? Just asking.......

Reply by HSH/WA on 3/15/13 12:17pm
Msg #461341

Re: To answer above question, over 1/2 my calls lost to

lower bidders this month from SSs that used to meet my fee no problem.

Reply by Belinda/CA on 3/15/13 12:31pm
Msg #461348

That is the nature of this business. Take less and

you won't last in the field. Takes less for months before you decide not to stay in this field and deteriorate the NSA industry before you leave.

Reply by Lisa Cirillo on 3/15/13 12:39pm
Msg #461350

Re: To answer above question, over 1/2 my calls lost to

I understand wanting the work but how low are you talking? You have to figure your bottom line and whether or not you are making any money. I don't want to walk out my door for any less that $xxx. I just can't. And I for sure don't want to be doing fax backs that some of those companies offer. Have I worked for less, yes I have, but it has to be something that's a few pages and a few miles with no fax backs. I certainly won't go out for a refi for any less than $xxx.

Reply by jba/fl on 3/15/13 1:47pm
Msg #461365

Quit moaning - get some new ones. n/m

Reply by Lee/AR on 3/15/13 1:27pm
Msg #461363

Love it! Low fee "is not the hill you want to die on". n/m